National Bank Ultramar MasterCard Review

National Bank Ultramar MasterCard

National Bank Ultramar MasterCard

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National Bank Ultramar MasterCard Review
6 / 10 Our Vote
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Pros
No annual fee
2.5% on your Ultramar gas station purchases
1.25% cash back rate on all remaining
Cons
No signup bonus
The maximum cash back annual rebate is only $250
Summary

The Ultramar MasterCard by the National Bank is a rewards credit card in the cash back category. As Ultramar is a home fuel and gas retailer you surely get some rewards on your monthly bills with Ultramar. On your bills for Ultramar heating equipment and oil, you may earn a cash back rate of 2.5%. When you buy gas at an Ultramar gas station then you may earn a cash back rate of 2.5%. All other purchases with this card may get you a 1.5% cash back reward. The card comes with no annual fee for the primary as well as supplementary cards. You may get a credit limit of at least $500 and you may link this card to your MasterPass digital wallet for ease in shopping. The exclusive partner options with MasterCard affiliates may give you certain benefits.

Again, this card does not have any promotions currently on balance transfers. You may pay the usual 22.99% interest rate of balance transfers. This card has many tiers that you may have to remember to accumulate cash back rewards. The card has some limited insurance benefits but there are other competitive cards that offer some comprehensive travel insurance benefits. You may also find other cards that have the promotional interest-free or low-interest balance transfer offers.

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Our Review on National Bank Ultramar MasterCard

National Bank Ultramar MasterCard Pros

The National Bank Ultramar MasterCard has many positive features. Some of these pros are as follows.

  • You pay no annual fee on the primary or additional cards.
  • If Ultramar provides your home heating equipment and oil then you surely benefit from a 2.5% cashback rate. You may get the same 2.5% on your Ultramar gas station purchases too.
  • The 1.25% cash back rate on all remaining purchases is also a good deal.
  • Zero liability program, extended warranty, and purchase protection are some benefits.

National Bank Ultramar MasterCard Cons

The National Bank Ultramar MasterCard does have some drawbacks too as follows.

  • They do not offer a promotional rate for balance transfers. You may pay the usual annual interest rate at 22.99% for balance transfers.
  • You may have to keep in mind too many tiers for calculating your cash back rate. As per the tier that you qualify, you may earn 2.5%, 1.25% or a 1%. Not many of us would like to worry about numbers while shopping.
  • Does not offer comprehensive insurance for travel related purchase with this card.
  • No signup bonus as compared to offers by competitors.
  • You may feel forced to purchase gas at Ultramar gas stations to earn the cashback.
  • To get 1.25% cash back rate you may have to use this card as your primary card and put all your purchases on this one.
  • The maximum cash back annual rebate allowed is only $250.

National Bank Ultramar MasterCard Overview

Annual Fee:$0.00
Interest Rate:19.99% on purchases
Balance Transfer:22.99%
Cash Advance:22.99%
Credit Score:Good
Additional  CardNo fee
Rewards:Many tiers on purchases, maximum annual limit is $250
OtherExtended warranty period, theft & damage coverage on purchase protection and zero liability

National Bank Ultramar MasterCard Features & Benefits

Annual Fee

You may get the primary card at no annual fee.

Interest Rate

The annual purchase interest (APR) rate that they charge is for 19.99%

Balance Transfer

As of now, they do not have any ongoing promotions on interest rates for balance transfers. You pay the usual 22.99% for the amounts that you transfer to this card.

Cash Advances

The interest rate they charge for cash advances is annually 22.99% for the cash advances that you obtain using this card.

Credit Score Rating

In order to qualify to apply for this card, you may need to have a good credit score. This means that for over 6 years you had a good rating and credit history. You may have not applied in the past 9 months for a new credit and never missed your minimum payments since last 3 months.

Additional Cards

You pay no fees for requesting supplementary cards. So, more users can earn more cash back rewards.

Rewards

  • On Ultramar gas purchases, you may earn 1% cash back rate on monthly purchases valued between $0.01 and $100. Above $100 you may earn 2%. If you spend $2500 or more annually then you may earn additional 0.5% cash back.
  • All other purchases of value between $0 and $6000 may get you a cash back rate at 0.25%. For purchases valued between $6000 and $9000, you may earn 0.50% cash back and over $9000 you may earn 1.25%.
  • The cash back rate for Ultramar home heating payments is 2.5%.
  • You may not exceed a maximum annual cash back reward of $250.

Insurance Features Of National Bank Ultramar MasterCard

BenefitCoverage limits
Purchase protectionFor a period of 90 days after you use this card to buy a product
Extended WarrantyGet double the warranty up to one more year

Coverage Summary

The National Bank Ultramar MasterCard has the following insurance features.

You may get purchase protection for a period of 90 days from the time you buy an item with this card. This protection covers theft & accidental damage to that item. Another benefit offered is for extended warranty period on top of the manufacturer’s warranty. This extends for one more year and is double the usual warranty period.

Where Can You Use National Bank Ultramar MasterCard

You may use the National Bank Ultramar MasterCard at all merchant terminals, the point of sale locations and online merchants who accept MasterCard. The MasterCard has wide acceptance all over the world and you may easily find a merchant. They would have MasterCard signage or logo display too.

National Bank Ultramar MasterCard Reward Redemption

The cash back rate for gas purchases at the Ultramar gas stations can be 1%, 2% or 2.5% as per your monthly expense. Some of the merchant codes used for these rewards are 5541 and 5542 when they belong to the ‘service station’ merchant category. You may also link this card with your digital MasterPass wallet for secure and easy online shopping.

National Bank Ultramar MasterCard Contact Information

  • (MasterCard)Customer Service Number: 514-394-1427 and 1888-969-2273
  • Customer Service (MasterCard) Mailing Address: Suite 1847-4, 600 De la Gauchetiere Street West, Montreal (Quebec) H3B 5B1.

*Rate and product information are subject to change at any time and does not constitute financial advice. Please contact the supplier for complete details.

National Bank is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.


Resources:

https://www.nbc.ca/forms/credit-card/ultramar.html?promoIdentificationInput=IAOJ

https://www.nbc.ca/en/personal/credit-cards/mastercard-credit-cards/cashback-cards/ultramar.html

https://www.nbc.ca/en/contact-us.html

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